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City Council to vote on pensions

03/10/2020 9:00 AM | Margaret Fulton (Administrator)

Santa Monica City Council will vote Tuesday to make cuts to retirement and health care benefits for municipal employees after negotiations with employee unions stalled for more than a year.

Santa Monica and other California cities are trying to resolve multi-million dollar deficits between the pensions they promised workers and the value of CalPERS, the state’s public employee pension fund that suffered severe losses during the Great Recession.

Read More: https://www.smdp.com/city-council-to-vote-on-pensions-health-care-contracts-for-municipal-workers/187332

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